Polymarket’s U.S. platform targeted in a debit card fraud scheme, with the total amount involved exceeding $10 million.
1 hours ago
According to The Wall Street Journal, prediction market platform Polymarket mishandled stolen debit card fraud issues amid the rapid expansion of its U.S. business. In February this year, the company processing debit card transactions for Polymarket’s U.S. platform discovered a large number of fraudsters binding stolen debit cards to accounts, attempting to place bets and withdraw funds to their own controlled accounts, with the total fraud amount reaching at least $10 million. At its peak, over 80% of deposits were deemed fraudulent, far exceeding the industry standard of roughly 1%.
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